Another month, another ...
HMV warning
it appears that profits will be lower than "expected" at £30mm for the full year. (after posting an interim loss of £41mm)
last year it made £74mm for FY, with interim loss of £18mm, so a profit of £92mm for h2, whereas this year it'll be more like £71mm.
There are a couple of "highlights"; that they have pushed back the test date for their debt covernants, one would imagine that is linked to their announcement on the 25th March that they are board were exploring strategic transactions for Waterstone's and HMV Canada.
The stock reaction is rather telling, its so low it doesn't care, so the Raven will add a few shares to replace the few that he sold when the stock popped on that previous announcement. It is hard to imagine that there is anything other than bad news already priced in...
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